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Jim Hackett says metal tariffs costing Ford $1 billion in profits

Ford CEO Jim Hackett divulged in an interview with Bloomberg that the Trump administration's tariffs on metals imported from the European Union, Canada and Mexico have affected the automaker's balance sheet, adding that trade disputes need a quick resolution. "From Ford's perspective, the metals tariffs took about $1 billion in profit from us," Hackett told the outlet. "The irony is we source most of that in the U.S. today anyways. We're in a good place right now, but if it goes on longer there will be more damage." Hackett did not specify what period the $1 billion covered, but a Ford spokesman said the CEO was referring to internal forecasts at Ford for higher tariff-related costs in 2018 and 2019. President Trump in March announced his intention to enact 25 percent tariffs on steel imports and 10 percent on imported aluminum from the three trade zones as a way to protect the U.S. steel industry. The move sent U.S. automakers' stock prices plunging at a time when they were coming off weak monthly sales reports. Separately, President Trump has targeted China with two rounds of tariffs targeting a combined $260 billion worth of imports. China has responded by enacting 25-percent tariffs on U.S. goods including vehicle imports. In the interview, Hackett said that has hurt demand for Lincoln, which has found a growing market for its luxury vehicles in China, and made the price of the Lincoln MKC less attractive to Chinese buyers. The MKC is built at the company's Louisville, Ky. assembly plant. "We've had to move people in that factory to other operations because of that trade problem," he said. It's not clear what those moves entail or how many workers were involved. Autoblog sought comment from a Ford spokeswoman and will update this story if we hear back. Ford last month announced it was scrapping plans to import the Focus Active small crossover to the U.S. from China because of the new 25-percent tariffs on Chinese imports. Material from Reuters was used in this report Related Video:

Detroit 3 to implement delayed unified towing standards for 2015

Car buyers have a responsibility to be well-informed consumers. That's not always a very simple task, but some guidelines are self-evident. If you live in a very snowy climate, you generally know a Ford Mustang or Chevrolet Camaro might not be as viable a vehicle choice as an all-wheel drive Explorer or Traverse, for example. If you want a fuel-efficient car, it's generally a good idea to know the difference between a diesel and a hybrid. But what if it's kind of tough to be an informed consumer? What if the information you need is more difficult to come by, or worse, based on different standards for each vehicle? Well, in that case, you might be a truck shopper. For years, customers of light-duty pickups have had to suffer through different ratings of towing capacities for each brand. For 2015 model year trucks, though, that will no longer be a problem. According to Automotive News, General Motors, Ford and Chrysler Group have announced that starting with next year's models, a common standard will be used to measure towing capacity. The Detroit Three will join Toyota, which adopted the Society of Automotive Engineers' so-called SAE J2807 standards way back in 2011. The standard was originally supposed to be in place for MY2013, but concerns that it would lower the overall stated capacity for trucks led Detroit automakers to pass. Ford originally passed, claiming it'd wait until its new F-150 was launched to adopt the new standards, leading GM and Ram to follow suit. Nissan, meanwhile, has said it will adopt the new standards as its vehicles are updated, meaning the company's next-generation Titan should adhere to the same tow ratings as its competitors. While the adoption of SAE J2807 will be helpful for light-duty customers, those interested in bigger trucks will still be left with differing standards. There is no sign of the new tow standards being adopted for the heavy-duty market.

Rare Ford Mustang ASC McLaren is a piece of '80s history

You can't blame the dealer for advertising this oddball convertible as a "Ford Mustang McLaren." The name certainly rolls off the tongue better than "Ford Mustang ASC McLaren," and it makes the car sound a whole lot more appealing. However, without the 'ASC' in there, you don't get the full picture. And when it comes to the world of strange automotive collaborations—particularly those of the 80s—you most definitely want the full picture. ASC McLaren Mustangs were the result of fortuitous timing, and a project that was already underway between the American Sunroof Company and McLaren (no, not that McLaren). Detroit custom car builder Peter Muscat brought the idea of a Mustang with a tonneau cover to ASC after chopping the top off a Fox body on his own, and in turn ASC founder Heinz Pretcher brought the concept to Ford. Big blue was already in the midst of relaunching a Mustang convertible, which had been absent from the lineup for 10 years, so initially it was the Mercury Capri that got the ASC/McLaren treatment. The result was a car that was more expensive than a Mustang GT, and coupled with declining sales of the Capri overall, the car was discontinued in 1986, paving the way for the ASC McLaren Mustang you see here on eBay. With the change over to the Mustang as their platform for modification in 1987, ASC McLaren were given the opportunity to create something notable. Customizing the Capri was one thing, but the Mustang name carries with it iconic status. So what did ASC McLaren do with their chance to leave their mark on automotive history? They gave the car some visual modifications, both inside and out, but like the Capri, left the powertrain untouched. Also like the Capri, the cars still ended up costing more than $20,000. Between the high price, the economic woes of the late 80s, and disputes between Muscat and Pretcher, the ASC McLaren Mustangs were no more by 1990. During the three year run, 1,806 ASC McLaren conversions were completed, making them quite rare, especially low mileage examples like this one. The 5.0 V8s are known for being stout engines, capable of handling serious modification, and logging lots of miles, so there are no concerns there. The 5-speed Borg-Warner transmission that came in all Mustang GTs is also known for being a durable unit, the '87-'90 versions especially so. The main concern here would be the life the car has lived, and more importantly where it has lived.